Wells Fargo & Company Issues Pessimistic Forecast for Ardagh Metal Packaging (NYSE:AMBP) Stock Price

Ardagh Metal Packaging (NYSE:AMBP) had its price target lowered by investment analysts at Wells Fargo & Company from $5.00 to $4.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 0.88% from the company’s previous close.

Other equities analysts have also issued reports about the company. Truist Financial upped their target price on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Ardagh Metal Packaging in a report on Wednesday, January 21st. UBS Group upped their price objective on shares of Ardagh Metal Packaging from $4.00 to $4.25 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Finally, Morgan Stanley set a $4.30 target price on shares of Ardagh Metal Packaging in a research note on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.51.

Ardagh Metal Packaging Price Performance

Shares of AMBP traded down $0.07 during trading hours on Friday, hitting $3.97. The company’s stock had a trading volume of 250,703 shares, compared to its average volume of 1,451,334. The business has a 50 day simple moving average of $4.52 and a two-hundred day simple moving average of $4.05. Ardagh Metal Packaging has a 52-week low of $2.53 and a 52-week high of $5.03. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -397.50, a PEG ratio of 0.99 and a beta of 0.54.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Ardagh Metal Packaging had a negative return on equity of 37.42% and a net margin of 0.20%.The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Ardagh Metal Packaging

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new position in shares of Ardagh Metal Packaging during the 4th quarter valued at about $33,000. Capital Investment Advisory Services LLC purchased a new stake in Ardagh Metal Packaging in the third quarter worth approximately $40,000. Pallas Capital Advisors LLC bought a new position in Ardagh Metal Packaging during the fourth quarter valued at approximately $42,000. Capula Management Ltd bought a new position in Ardagh Metal Packaging during the second quarter valued at approximately $45,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Ardagh Metal Packaging by 13,495.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,876 shares of the company’s stock worth $45,000 after acquiring an additional 10,796 shares in the last quarter. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.